VANCOUVER, Nov. 6, 2012 /CNW/ - For the three months ended September 30,
2012 ("Q1 2013"), revenue decreased to $825,956 as compared to $894,114
in the corresponding period in fiscal 2012 ("Q1 2012"). Revenue
decreased from each of the Mears Plant, Cypress Plant and Kyuquot
Utility in Q1 2013 over Q1 2012 and consulting revenue increased
slightly in Q1 2013 over Q1 2012. The Barr Plant was not in operation
in Q1 2012.

The net loss for Q1 2013 was $436,869 as compared to a net loss of
$89,790 in Q1 2013. A net loss in the first quarter is expected as the
generation from hydro plants in the first quarter normally represents
less than 10% of annual forecast generation. The increase in net loss
reflects the addition of Barr Creek operations as well as reduced
generation from the Mears and Cypress Plants due to near record dry
conditions in August 2012 and September 2012. Total generation in Q1
2013 at the Mears and Cypress Plants was 1,595MWh, which is 42% of the
generation at the plants in Q1 2012. The loss per share in Q1 2013 was
$0.02 as compared to a loss per share of $0.00 in Q1 2012.

During Fiscal 2010, Hawkeye Energy Corporation ("HEC"), a creditor of
the Company, entered into receivership and its assets were
conditionally sold by the Receiver on behalf of the creditors to the
Engineering Division under a bidding process. Prior to closing the sale
to the Engineering Division, Hawkeye Power Corporation ("HPC") advanced
a claim of an unregistered prior right to the HEC assets. On November
21, 2011, a court dismissed the HPC claim. Subsequently, on December
20, 2011, HPC filed for Notice of Appeal of the court decision.
Subsequent to the end of Q1 2012, on October 18, 2012, the BC Court of
Appeal upheld the appeal of HPC and ordered that a new trial be held.
The date of for the new trial is expected to be in early 2014. HPC has
advised that they may pursue further legal action after the new trial.

During Q1 2012, the Power Division had capital expenditures of $74,224
in respect of the development of three separate hydroelectric projects,
namely the 5MW McKelvie Creek Project, the 8MW (in total) Newcastle and
Montague Creek Projects and the 9.9MW Victoria Lake Project. The
Victoria Lake Project has an electricity purchase agreement dated
August 2006 whereas the two other projects are expected to make
application for electricity purchase agreements under the BC Hydro
Standing Offer Program.

At September 30, 2012, the Company had a cash balance of $938,086 which
includes $249,806 of cash held within Barr Creek Limited Partnership
and Barr Creek Hydro Ltd. The Company is continuing to utilize much of
its free cash flow to advance the development of hydroelectric
opportunities on Vancouver Island in British Columbia.

Synex International Inc. is a public company, trading on the TSX since
1987, with business interests that cover the development, ownership and
operation of electrical generation facilities and the provision of
consulting engineering services in water resources, particularly
hydroelectric facilities.

"signed"
______________________________________Greg Sunell, President

This press release contains forward-looking statements that involve
risks and uncertainties. These statements reflect our current
expectations and are subject to change. They are subject to a number of
risks and uncertainties including, but not limited to, changes in
economic conditions, risks associated with the construction and
operation of hydroelectric facilities and changes in government
policies.